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U.S. Advances GENIUS Bill for Comprehensive Stablecoin Regulation

U.S. Vice President Vance emphasizes that the GENIUS Bill aims to enhance stablecoin use for digital payments, improving convenience and market transparency for millions of Americans.

Summary

U.S. Vice President Vance announced that the GENIUS Bill's implementation is anticipated to greatly increase stablecoin usage as a digital payment system, benefiting millions of Americans while safeguarding holders and improving market transparency.

Terms & Concepts
  • GENIUS Bill: A legislative proposal in the U.S. aimed at establishing a regulatory framework for stablecoins.
  • stablecoins: Cryptocurrencies designed to maintain a stable value by being pegged to a reserve of assets.
  • bipartisan support: Agreement or cooperation between two political parties that usually oppose each other's policies.